Sunday, January 05, 2025 | 02:28 PM ISTEN Hindi

BS Awards 2021 highlights: Indian economy should recover well, say winners

The winners of various awards said that while it will take some time to get over the impact of Covid, the economy is picking pace and projections look good

BS Web Team New Delhi

BS Awards 2021

Business Standard organised its annual Awards for India Inc under various categories The power-packed jury led by Kumar Mangalam Birla picked the best performers of the industry. The winners of the awards are as follows:

Start-up of the year: freshworks

Star SME: Alkyl Amines Chemicals

Star PSU: Gujarat Gas

Star MNC: Whirlpool of India

Company of the year: C Vijayakumar, MD & CEO, HCL Technologies

Banker of the year: Shyam Srinivasan, MD & CEO, Federal Bank

CEO of the year: K B S Anand, Former MD & CEO, Asian Paints

Lifetime Achievement Award: A M Naik, Larsen & Toubro Group Chairman

The award presentation was followed by the keynote address by the Chairman of the Economic Advisory Committee to the Prime Minister, Bibek Debroy. In his address, he said that while Covid was an unforeseen shock, the vaccination numbers now look very impressive, the medical systems are far better equipped today and it is unlikely that a nation-wide lockdown will be seen again.

Talking about economic growth Debroy said, "the real rate of growth is expected to be in the vicinity of around 10 per cent in 2021-22. The least that will happen in 2021-22 is a growth which will a mirror image of the decline in 2020-21."

"The nation lost two years of growth and development due to the pandemic. Yet, there is no evidence that Covid has worsened inequality and poverty levels in India", Debroy added.

Shyam Srinivasan of Federal Bank, who was adjudged 'Banker of the year', said that banking is the backbone of the financial system, but fintech are challenging the banks to adapt.

C Vijayakumar of HCL, who won the Best Company of the Year, said that talent crunch is a major issue and one of the biggest challenges is to get the current crop of employees up to speed with evolving technology.

Whirlpool of India won the Star MNC award and its MD & CEO, Vishal Bhola, opined that consumer behaviour and attitude changed a lot ever since the pandemic struck.

"Securing labour was and is still a big challenge for some sectors, but the situation is improving now", said Yogesh Kothari of Alkyl Amines.

On the question of inflation, K B S Anand, former CEO of Asian Paints, said that it impacts everyone, but as long as demand stays strong, it should not be troublesome. He said that inflation is a short-term problem in India.

5:14 PM

The illiterates of the 21st century are the ones who can't unlearn and relearn: C Vijayakumar, HCL

The illiterates of the 21st century are the ones who can't unlearn and relearn. Tech companies are working on re-skilling their employees: C Vijayakumar, HCL

5:10 PM

NBFCs, fintechs, banks, all co-exits because of the clearing system: Shyam Srinivasan, Federal Bank

5:05 PM

Banking and fintech is a partnership game: Shyam Srinivasan, Federal Bank

5:05 PM

Banks are the clearing house. Money can't move with banking architecture: Shyam Srinivasan

Banks are the clearing house. Money can't move with banking architecture: Shyam Srinivasan, Federal Bank

5:03 PM

Inflation is short-term problem in India: K B S Anand, Former MD & CEO, Asian Paints

5:03 PM

Inflation impacts everyone. It shouldn't bother if growth and demand continue: K B S Anand

Inflation impacts everyone. It shouldn't bother if growth and demand continue: K B S Anand, Former MD & CEO, Asian Paints

5:01 PM

Securing labour has been a problem but it is getting better now : Yogesh Kothari, Alkyl Amines

4:45 PM

There has been a fundamental change in consumer behaviour since pandemic struck: Vishal Bhola

There has been a fundamental change in consumer behaviour since pandemic struck: Vishal Bhola, Whirlpool of India

4:40 PM

Talent is the biggest challenge going ahead in the post-pandemic world: C Vijayakumar

4:32 PM

Fintechs are challenging the banks to adapt: Shyam Srinivasan, Federal Bank

4:14 PM

I do not think the inflation numbers are that worrying today: Bibek Debroy

I would be more concerned with the revival of growth. I do not think the inflation numbers are that worrying today. There should be greater coordination between monetary and fiscal policies: Bibek Debroy, Chairman, EAC-PM

4:08 PM

I find no evidence that Covid has worsened inequality and poverty levels in India: Bibek Debroy

I find no evidence that Covid has worsened inequality and poverty levels in India: Bibek Debroy, Chairman, EAC-PM

4:03 PM

While there are signs of growth, there are concerns regarding the urban labour market: Bibek Debroy

While there are signs of growth, there are concerns regarding the urban labour market. No one can argue that the rural sector is worse off because of the pandemic. In urban labour market, however, there are issues: Bibek Debroy, Chairman, EAC-PM

3:55 PM